TotalEnergies Acquires Bolloré Group's Bluecharge
The largest electric vehicle (EV) charging network in Singapore is now under new management.
TotalEnergies, a French multinational integrated broad energy company, has recently signed an acquisition deal with Bolloré Group for Bluecharge, Singapore's largest EV charging network. Once the approval of the relevant authorities has been given, TotalEnergies will manage and operate Bluecharge's charging points, which will be rebranded as TotalEnergies.
According to the company's President of Marketing & Services, Alexis Vovk, the acquisition is part of the company's transformation to a green energy provider. He also added that the acquisition of Bluecharge is a key initiative for the company in the Asia-Pacific region as the development of electric mobility in the region is a major challenge due to the region's reliance on fossil fuels.
The Bluecharge EV charging network comprises more than 1,500 charge points in Singapore, and as such, represents around 85% of the charge points currently under operation in the country. The network was developed in collaboration with Singapore's Land Transport Authority and other partners as part of Singapore's Green Plan 2030.
TotalEnergies Asia Pacific & Middle East President, Ting Wee Liang, expressed his excitement about the acquisition, saying that it signals the company's ambition to "actively participate in Singapore's Green Plan 2030". He also commented on Bluecharge's acquisition, mentioning that it will allow them to "contribute towards the development of cleaner and reliable mobility solutions in the country".
You may remember that Singapore's Green Plan 2030 aims to set up 40,000 EV charging points in public carparks and 20,000 in private premises by the end of the decade. Additionally, the Singaporean government mentioned that all internal combustion engine vehicles will be phased out in 2040 in favour of the more carbon-neutral EVs.
A CNA article mentioned that TotalEnergies will not change Bluecharge's current pricing plan for EV drivers with existing Bluecharge accounts. The article also added that TotalEnergies was unable to provide financial details at the acquisition's announcement.
Written by John Paul Joaquin